Month: June 2018

Trump Says Saudi King Agreed To Raise Oil Production Up To 2 Mln Barrels. Comcast blames widespread service outage on cut fiber lines. Top ICE lawyer sentenced to four years in prison for stealing immigrants’ identities. Papering over cracks, EU leaders claim summit victory on migration. U.S. intelligence believes North Korea making more nuclear bomb fuel despite talks: NBC. Citigroup to refund $335 million to credit card customers.

BP Holds Millions Of Barrels Of Oil Off China As Demand Falters. Deutsche Bank investors unshaken by U.S. stress test failure. Kroger to bring driverless cars to grocery delivery. John Kelly said to be on his way out, Trump is considering who will be next White House chief of staff. Euro rallies after all-night talks yield deal for Merkel, EU. EU leaders unite over Trump tariffs, foreign investments. Manafort assistant gave FBI access to storage locker: testimony. Citigroup to refund $335 million to credit card customers. It’s been decades since the White House has warned the Fed the way Kudlow just did. Trump will dump oil from Strategic stockpile.

Saudi-Russian Axis Rules Oil Markets As Trump Fights Iran. U.S. oil exports reached a record 3 million barrels a day last week — a greater amount than is pumped each day by all but three OPEC countries. Trump adviser sees having Putin summit as ‘a deliverable.’ Market rate rise may thwart Fed’s balance sheet plan. Fed’s Rosengren calls for more tools to lessen severity of next economic downturn. Merkel says migration could make or break the E.U.

Harley-Davidson To Move Some Production From U.S. Because Of E.U. Tariffs. Europe migrants: Italy warns Schengen is ‘at risk.’ China moves to shore up economy as slowdown and trade fight loom. Gold price expected to fall. Chicago Fed’s May national economic index retreats into negative as factories slowed. Oil drops as market braces for more OPEC crude and Wall Street slips. Carnival shares plunge the most in 2 years after slashing full-year forecast. Dow drops 400 points as Trump reportedly plans to curb Chinese investments in U.S. tech.

Trump Threatens 20 Percent Tariff On European Union Cars. Tom Arnold: ‘Trump is an illegitimate president.’ Trump says GOP should ‘stop wasting their time on immigration’ until after midterms. Bitcoin tumbles after Japan watchdog orders exchanges to review business practices. Mr. Falih also suggested that traders, who pushed up oil prices sharply on Friday after the OPEC decision, may have underestimated the major producers’ determination to act.

High Court: Online Shoppers Can Be Forced To Pay Sales Tax. Trump’s foreign policy will make Europe stronger, U.S. official says. Russia says it will impose retaliatory tariffs on U.S. imports. NYMEX crude oil climbs above $66/bbl on big inventory drop. Beijing puts import taxes on U.S. crude, refined products. In hitting China on trade, Trump is seen neglecting U.S. emerging industries. Italy and Germany clash as migration rows split EU. Trade concerns could give the Dow its longest losing streak since the 70s.

U.S. Trade Tariffs Push Industrials, Materials Stocks Lower. Trump defends new tariffs, says China started trade war. A new holding place for hundreds of immigrant children: A vacant warehouse in Houston. As trade war with China looms, U.S. readies second wave of duties. Citigroup to pay $100 million to settle U.S. Libor rigging probe. Volcker ‘fix’ may cause new headaches for Wall Street.

ECB To End Bond Buying But Pushes Out First Rate Hike. Oil prices are unlikely to increase as ‘sharply’ from now on, IEA says. OPEC will squeeze oil buffer to historic lows with an output hike. Who is behind Trump’s links to Arab Princes? A billionaire friend. Exclusive: Saudi Aramco eyes partnerships as it expands refining, petrochems. Rolls-Royce cuts 4,600 jobs at ‘pivotal moment’ for business.

Trump Surprises With Pledge To End Military Exercises In South Korea. U.S. promises not to bring up human rights at North Korea summit. Susan Rice: ‘Very worrisome’ for Trump to ‘disrespect our allies while embracing Russia and giving benefits to China.’

France On G7: ‘Fits Of Anger’ Cannot Dictate International Cooperation. Bitcoin price plunges after cryptocurrency exchange is hacked. Trump’s tweets slam Canada and Trudeau anew from Singapore. White House: Trump leaving Singapore early as North Korea talks move quicker than planned. The absolute chaos of Donald Trump’s G7 meeting (and what it means moving forward). Jaguar to cut more UK jobs as it moves Discovery output to Slovakia. U.S. promises not to bring up human rights at North Korea summit.

German Chancellor Merkel’s Stare Down Photo Sums Up Trump’s Time At G-7. Trump delivers warning to allies on trade as he leaves G-7 summit. Macron turns on Trump after U.S. President attacks EU and Canada: ‘We don’t mind being G6, if needs be.’ Schumer: Trump ‘turning our foreign policy into an international joke.’ China hosts Russia, Iran for summit as U.S. tensions rise.

Border Agents Are Separating Immigrants From Their Children – A Plan Once Floated By The Trump Administration. U.S. unemployment rates matches the rate in 1929, right before the start of the GREAT DEPRESSION. Morgan Stanley says we’re in a bear market but investors just don’t realize it yet. Trump says June 12 summit with North Korea’s Kim is back on. Nonfarm payrolls rose seasonally adjusted 223,000; unemployment rate at 3.8%. Sears is closing 72 more stores. Goldman: NAFTA deal is now less likely after Trump’s tariffs on Mexico and Canada. John Boehner says “There is no Republican Party. There’s a Trump party.” Paul Ryan undercuts Trump on tariffs. Jim Mattis warns of consequences if Beijing keeps militarizing the South China Sea.

Trump Says June 12 Summit With North Korea’s Kim Is Back On. Whole Foods quietly pauses its GMO labeling requirements. U.S. oil output jumps to record high. Congressional Republicans lining up against Trump on trade. Morgan Stanley says we’re in a bear market but investors just don’t realize it yet. Goldman: NAFTA deal is now less likely after Trump’s tariffs on Mexico and Canada. Cleveland Fed’s Mester says the Italian turmoil and a flattening yield curve haven’t changed her interest-rate view.